VPG (VPG) financial statements
VPG reported revenue of $307M in fiscal 2025, up 3.5% a year over 9 years.
Net income was $5M and the operating margin 4.5%, against 5.0% in 2016.
Free cash flow was $6M.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from VPG's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $225M | $254M | $300M | $284M | $270M | $318M | $363M | $355M | $307M | $307M |
| Cost of revenue | $142M | $156M | $179M | $172M | $166M | $193M | $213M | $205M | $181M | $188M |
| Gross profit | $83M | $98M | $121M | $112M | $104M | $125M | $150M | $150M | $126M | $119M |
| Research and development | $11M | $12M | $12M | $12M | $13M | $17M | $20M | $20M | $20M | $21M |
| Selling, general and admin | $68M | $74M | $81M | $80M | $78M | $95M | $104M | $107M | $108M | $110M |
| Operating income | $11M | $22M | $37M | $29M | $23M | $27M | $44M | $42M | $17M | $14M |
| Interest expense | $1M | $2M | $2M | $2M | $1M | $1M | $2M | $4M | $3M | $2M |
| Pre-tax income | $10M | $21M | $34M | $26M | $18M | $26M | $45M | $38M | $18M | $9M |
| Income tax | $3M | $6M | $10M | $4M | $8M | $5M | $9M | $12M | $8M | $3M |
| Net income | $6M | $14M | $24M | $22M | $11M | $20M | $36M | $26M | $10M | $5M |
| EPS (diluted) | $0.48 | $1.07 | $1.75 | $1.63 | $0.79 | $1.48 | $2.63 | $1.88 | $0.74 | $0.40 |
| Diluted shares | 13M | 13M | 14M | 14M | 14M | 14M | 14M | 14M | 13M | 13M |
| Gross margin | 36.8% | 38.6% | 40.5% | 39.3% | 38.6% | 39.4% | 41.3% | 42.3% | 41.0% | 38.9% |
| Operating margin | 5.0% | 8.8% | 12.4% | 10.1% | 8.4% | 8.6% | 12.1% | 11.8% | 5.5% | 4.5% |
| Net margin | 2.8% | 5.6% | 7.9% | 7.8% | 4.0% | 6.4% | 9.9% | 7.2% | 3.2% | 1.7% |
Balance sheet
Fiscal years, from VPG's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $58M | $74M | $90M | $87M | $98M | $84M | $89M | $84M | $79M | $87M |
| Receivables | $34M | $47M | $53M | $43M | $45M | $58M | $60M | $56M | $51M | $56M |
| Inventory | $56M | $60M | $62M | $67M | $62M | $76M | $85M | $88M | $84M | $83M |
| Total current assets | $156M | $191M | $215M | $213M | $222M | $235M | $252M | $243M | $237M | $247M |
| Property, plant and equipment | $55M | $56M | $59M | $61M | $75M | $81M | $87M | $91M | $80M | $76M |
| Goodwill | $19M | $19M | $16M | $35M | $31M | $46M | $46M | $46M | $47M | $47M |
| Total assets | $271M | $307M | $326M | $370M | $402M | $462M | $477M | $472M | $451M | $456M |
| Total current liabilities | $37M | $52M | $55M | $89M | $48M | $65M | $64M | $62M | $53M | $55M |
| Long-term debt | $34M | $28M | $22M | $17,000 | $41M | $61M | $61M | $32M | $31M | $21M |
| Total liabilities | $99M | $113M | $108M | $129M | $144M | $185M | $170M | $142M | $129M | $120M |
| Shareholders' equity | $171M | $193M | $218M | $241M | $258M | $277M | $307M | $330M | $322M | $336M |
| Net debt | -$22M | -$42M | -$63M | -$42M | -$58M | -$24M | -$28M | -$52M | -$48M | -$67M |
Cash flow
Fiscal years, from VPG's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $12M | $23M | $35M | $31M | $35M | $34M | $33M | $46M | $20M | $14M |
| Capital spending | $10M | $10M | $13M | $11M | $23M | $17M | $21M | $15M | $9M | $8M |
| Free cash flow | $1M | $13M | $22M | $20M | $12M | $16M | $12M | $31M | $11M | $6M |
| Stock-based compensation | $37,000 | $1M | $2M | $1M | $1M | $2M | $2M | $2M | $971,000 | $2M |
| Share buybacks (net) | $0 | $0 | — | — | $0 | $0 | -$3M | -$6M | -$8M | $0 |
| Net borrowing | $0 | $0 | — | — | — | -$18,000 | $0 | $0 | — | — |
| Free cash flow margin | 0.5% | 5.0% | 7.4% | 7.2% | 4.6% | 5.2% | 3.2% | 8.7% | 3.5% | 2.1% |
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Open VPG in InvestinglyQuestions
What was VPG's revenue in 2025?
$307M in fiscal 2025, from its 10-K filing.
How much free cash flow does VPG generate?
$6M in fiscal 2025 (operating cash flow minus capital spending).
From VPG's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.